Ask a REALTOR

Why would we sign a Buyer’s Rep forms, we haven’t even found the home we want yet?

When you’ve chosen the real estate representative you trust to work with; sign the forms early. Communication is crucial after all Buying a home may be the greatest amount of money spent in one’s lifetime and part of the process towards Buying a home involves being clear about the Buyer(s) Representation Agreement well before the Offer to Purchase is Drafted.

The sooner the best value of representation you can have with a Buyer Specialist is established under a Buyer Agreement the better. The terms of the agreement should be reviewed in depth and understood before endorsing. Before signing, Buyer’s will know they’ve committed to a specific time frame to work with their Buyer agent which may include a holdover period which extends past the dates in the contract and the contract may be extended.
Other key factors reviewed and agreed upon are the target location and home needs including budget, style, size of home needed so the specialist is fully working towards achieving these goals minimizing misunderstandings. Commission details are outlined and discussions about what happens in the case of commission shortfalls, the support system in place that may further benefit Buyers and finally a service guarantee will be discussed.

Under Client representation not only do Buyer’s receive what every customer receives which is Honesty, Fairness, Reasonable Care, Skill and Diligence in the Process but so much more for the benefit of the Buyer. The crucial duties additionally provided to Buyer Clients are Full Disclosure, Confidentiality, Negotiating Favourable Terms for the Buyer, Action as Buyer’s Advocate, Obeying Instructions and Undivided Loyalty working for the Buyer’s Best Interest.

Establishing a client relationship early on could save Buyer’s thousands of dollars as they will not unknowingly give away their power or motivation to Seller’s Representatives who are contractually obligated to act in the best interest of their Seller’s by simply answering open ended questions about their motivation better left to their Buyer agent.

Another feature or benefit to consider when choosing a Buyer Specialist is their continued education and advancements and designations earned including courses like the Accredited Buyer’s Representation ABR®, Certified Negotiation Expert CNE®, Senior’s Real Estate Specialist SRES® courses which are recognized throughout Canada and the United States.

Now is a great time to buy with a more balanced market of homes available for sale and less competition which drives sale prices higher, call a professional to book a face to face Buyer’s consultation.